Northern Tool & Equipment Leases Retail Space In Houston
11045 East Fwy, Houston, Texas 77013, United States
Building Size
31,000 SF
Asset Type
Retail
Closing
Feb 18, 2022
About this deal
AI
The retail property located at 11045 East Freeway in Houston has recently been leased. The property spans a total of 31,000 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 02/19/2022
- Market: Houston
- Tenant: Northern Tool + Equipment
- Landlord's Representative: Shawn Ackerman & Jason Du - Henry S. Miller Brokerage
- Tenant's Representatives: Clay Mote, Retail Union & Jason Baker - Baker Katz
The lease agreement for the property was facilitated by Shawn Ackerman and Jason Du from Henry S. Miller Brokerage, representing the landlord. Clay Mote from Retail Union and Jason Baker from Baker Katz were the tenant's representatives in the deal.
Players
Houston Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93